The U.S. real estate market is shifting away from the Multiple Listing Service system toward price-setting exchanges, which will create a less transparent, more chaotic market. This move mirrors the stock market model, eliminating the negotiated listings that currently give savvy buyers and sellers room to find deals.
There are just massive changes coming to the way real estate is sold in this country. It's going to make for a much less perfect market. I mean, the price being set by an exchange. There's a spectrum, right, of very fragmented markets where everything's just totally imperfect. Nobody knows what the price of anything is, there's no data transparency, nobody knows. And then on the other end of the spectrum, I'd say one of the most perfect markets is the stock market. Now, I don't think the stock market is good. I think it's a complete scam. But in terms of perfect, if the stock is selling at $100 a share, it's $100 a period, end of discussion. That's the price. That's a perfect market. And there's very little room for opportunity in a very perfect market because the price is the price. Real estate has always been this kind of middle of the spectrum asset class because every house is different. It's not exactly perfect. But you did have this exchange, the multiple listing service, which almost everybody participated in, and that really helped you get pretty good data. But now it's going to become just chaos. That's what's coming, folks.
